2020 in the rearview mirror; business leaders see improvement if COVID conquers business

2020 in the rearview mirror;  business leaders see improvement if COVID conquers business

The impacts of the COVID-related recession have largely affected women, small businesses and low-income workers, the Acadiana Advocate’s 2021 Economic Outlook Roundtable revealed on Wednesday. But information from a local panel suggests a more robust economy as this year unfolds and possibly a full recovery for most areas of the economy by 2022.

Gary Wagner, professor of economics at the University of Louisiana at Lafayette, said he was “cautiously optimistic” for 2021 as the COVID-19 vaccination effort progressed, with a “much stronger recovery” in the second half of 2021. The Lafayette region has been down by around 8,000 jobs since February 2020, but these jobs are expected to be recovered significantly by early 2022.

For higher-income earners, $ 60,000 and over, he said, the pandemic recession is largely over, with employment falling by about 1%. For others, the pandemic …

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